And others don't comprehend that you make what you're worth in a free market society. That 600 a week just gave them a reason to do nothing. So it's throwing money away that the country doesn't have.
New ( Repub) Stimulus Package Expected Today - Here's What Will Likely Be In It
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You know what poors do? They spend all their money...all of it. Always a great way to stimulate the economy. Money well spent.
Yeah in the short term that's fine. Not long term. You have to keep giving them money for that.
Its sickening, almost deadening. Our grandparents didn’t screw us over. But we’re sure screwing our descendants.
The Baby Boomers screwed us over...the sooner you come to grips with that, the better off you will be.
Completely senseless and polar opposite of economics. So, if everyone was unemployed, we could give everyone an extra $600/WK and that would stimulate the economy? Pure utter nonsense. Did the economy expand during the pandemic? Did I miss something?
Paying people more than they make working is NOT good for the economy. Especially when the money you're giving away is taken from those who do work and/or borrowed. The debt and deficit most assuredly do matter. Any one who says it doesn't flunked basic economics. Every dollar the government spends is taken from someone's pocket and reduces that person's ability to stimulate the economy. Add in government inefficiency and waste and the dollar taken from an individual probably becomes about a quarter of economic good it creates.
it’s called stimulus. You might not like it, but it’s needed at times when the govt is the only game in town. Your simplistic view to a global epidemic wrecking havoc to the entire planet is very narrow at best.
The economy is open. People aren't using many services though. What do you do about those people?
The minimum wage needs to be raised. It has not risen in conjunction with inflation. That's why we're seeing this.
Thomas Sowell is a very well educated man who has spent his life studying economies throughout time and across the world. Bottom line is that giving people things has never benefited individuals/society.......enabling people to work for things has always benefited individuals/society.
Seattle did it. A year later they found out that fewer hours were worked with the higher minimum wage, i.e., some jobs got replaced, some hours got reduced, some jobs got eliminated, overtime hours got reduced. The net effect was slightly negative. If you raise the minimum wage to a 'living wage' (whatever that means), employers will figure out ways to keep their costs the same or lower (kiosks at McDonalds, no overtime, fewer workers working harder, etc.). If they don't, prices MUST increase to keep profits level and most consumers will either: pay the extra; find a suitable, cheaper substitute; or do without. Basic economics. Changing one variable in the economy potentially changes many others, too, making it devilishly difficult to project what a particular action will do.
I don't disagree. Just pay them more for that work, and they won't have a mathematical advantage by collecting unemployment and sitting at home.
Raising that will cause prices to go up... raising the minimum wage doesn't help.
Cut unemployment, don't raise wages which causes costs to increase or jobs to be cut.
Not necessarily. Incentivize corporations to pay a living wage. $8/hr works out to under $17k/yr with a 40 hr work week.
And before the political thread crowd chimes in to label me a socialist, I'm simply advocating that people's basic needs are met. Not in the form of a handout, just an honest wage.
Low Wages Cost U.S. Taxpayers $152.8 Billion Each Year in Public Support for Working Families
The federal min wage should be set based on the lowest cost of living areas of the country and then let other state and local governments raise higher if they deem appropriate. That avoids over-inflating the rate.
Once that is done the min wage rate should be indexed to the inflation rate and thereafter adjusted upward or downward as appropriate. That way congress doesn't have to get into a political squabble over the issue every 4 or 5 years.
The federal min wage should be set based on the lowest cost of living areas of the country and then let other state and local governments raise higher if they deem appropriate. That avoids over-inflating the rate.
Once that is done the min wage rate should be indexed to the inflation rate and thereafter adjusted upward or downward as appropriate. That way congress doesn't have to get into a political squabble over the issue every 4 or 5 years.
lol minimum wage
Yes, let’s increase the wages of everyone at Walmart, McDonald’s, et al so prices go up. Should definitely help poor people.
Maybe one day (I know the day will never come) you clowns will realize every single industry you meddle in gets worse. Education, Heath care, housing. All **** with absurd amount of government involvement. All **** that’s skyrocketed in price faster than inflation.
Yes, let’s increase the wages of everyone at Walmart, McDonald’s, et al so prices go up. Should definitely help poor people.
Maybe one day (I know the day will never come) you clowns will realize every single industry you meddle in gets worse. Education, Heath care, housing. All **** with absurd amount of government involvement. All **** that’s skyrocketed in price faster than inflation.
There's no such thing as a "living" wage. If you boost minimum wage, prices will go up or jobs will be cut. Sorry man. That's just simple economics.
They will never get it. No matter how many times it's shown not to work(like seattle).
Why does a person have to only work 40 hours a week or remain in a minimum wage position?
I have a niece with a college degree in Social something or other. She worked as a janitor and complained that they didn't pay her enough to do the job.
I explained that they pay that amount because you can quit tomorrow morning and by lunch time a person qualified to be a janitor will have that job. I told her you need to get a skill that is valued and difficult to replace. Then you will be compensated accordingly.
She responded, but I have a college degree in Social something or other. I replied that we should have had this conversation before she selected her college major.
The last I heard she was in a program that sent her to South Korea to teach the english language.
I explained that they pay that amount because you can quit tomorrow morning and by lunch time a person qualified to be a janitor will have that job. I told her you need to get a skill that is valued and difficult to replace. Then you will be compensated accordingly.
She responded, but I have a college degree in Social something or other. I replied that we should have had this conversation before she selected her college major.
The last I heard she was in a program that sent her to South Korea to teach the english language.
I understand Econ 101. Are you suggesting that min wage remain at $7 or whatever it is forever?
You're right, let's keep as many people in poverty as possible and continue to tell them to "pull themselves up by their bootstraps" or find a better job.
How Christian of you.
With respect, your totally incorrect and economics is never simple, however for illustration I'll give you a simple example of why that concept is invalid.
Just a couple of years ago Wal-Mart's average entry level compensation package was around $8.50/hr. A competitor Costco was over $16 an hour and their prices were comparable. Because Costco had a better wage/benefit package they had much better employee moral, much less turnover and absentees, and an overall higher quality workforce that overall allowed them to operate much more efficiently than Wal-Mart.
Wal-Mart however is a pretty shred company and the saw what Costco was doing and began increasing their wage package which is now around $12/hr still less than Costco's $17 but closing the gap, and since then Wal-Mart has enjoyed some improvement in employee efficiency and their prices have not increased noticeably if at all.
Good point. You can see it in grocery stores like Aldi's and Trader Joe's compared to the typical American store.
Sounds like free market worked
Yes. If you don't want to make minimum wage, gain a more marketable skill. Raising minimum wage only will increase costs to producers. The producers will then either pass those costs onto the consumers(higher prices), or cut costs through automation(firing workers).
That's still a free market decision though. That has nothing to do with minimum wage. Walmart was being cheap on labor and people made the right choice to move. Walmart already had the infrastructure to absorb the increasing cost. If they didn't, they would have increased prices. They found out that they could afford to keep the price the same, yet raise wages, because it probably offset the cost of training new employees all the time. Trust me, if walmart was losing money by the increase in wages, the prices would have risen. The costs to the company just shifted.
Seattle though is an example brought up earlier in the thread. Raising the minimum wage didn't actually make a difference.
Sounds like you're in favor of eliminating min wage altogether, so we'll just have to agree to disagree on this one.
But to your point about prices increasing, that happens anyway over time through inflation. IMO the min wage should increase with it. My McDonald’s cheeseburger costs more now than it did in 1995, so why should the guy making it continue to make the same as he did then?
He could find a different job. I promise that burger will go up if minimum wage goes up. I'm honestly not sure what there is to "agree to disagree" to. If you think he should be paid more, buy a McDonald's franchise and pay him what you think he should be paid now. We can see what happens with the business.
Because the guy making it shouldn’t be the same guy. He should have graduated high school already and moved on like most people who once worked minimum wage quality jobs.
I’m pretty sure I researched the statistics at one point, but the number of people who work for minimum wage that are not high school or college students who work part time, is incredibly, incredibly small.
Implementing/increasing minimum wage will ensure more people remain in poverty and dependent on the government. Ultimately, I know that’s the point.
Implementing/increasing minimum wage will ensure more people remain in poverty and dependent on the government. Ultimately, I know that’s the point.
Another thing is I don’t think people realize how easy college is to graduate these days. Go part time, get an online degree, get scholarships/grants/tuition assistance (loans if you *have* to). You don’t have to be able to do much beyond read and write and have a little desire.
For the last two years we have given basically interest free loans, printed money like there is no tomorrow, and build debt at a huge rate. That was before COVID.
a house that that needs a credit card to pay for monthly bills is not healthy economically.
same applies to governments.
we will likely approach $30T in debt within the year.
our economy has not been healthy for a long time.
a house that that needs a credit card to pay for monthly bills is not healthy economically.
same applies to governments.
we will likely approach $30T in debt within the year.
our economy has not been healthy for a long time.